The Road to ROI with F&I

Dealership compliance is a vital and necessary part of running your business correctly. Dealership compliance is the only way to avoid expensive lawsuits and maintain a good reputation. Customers remain loyal to a dealership with compliance training because following compliance laws helps to build trust. With laws changing continually and the introduction of new employees to the dealership, ensuring compliance is a difficult task. These tips can help you maintain compliance in your dealership at all times.

The complex and ever-changing rules of Finance and Insurance compliance may be frustrating to keep track of, but they exist for a very important reason. These rules keep dealerships from even accidentally taking advantage of customers. Without strict enforcement of F&I compliance, a single stray salesperson could ruin the fair business record of an entire dealership. While constant re-training is necessary for absolute compliance, you can prepare your team to always work in the spirit of F&I protections by training them in transparency and good-faith sales.

Most of us view paperwork as tedious and cumbersome to the process of doing our regular work, especially when it comes to F&I Compliance. And most of us probably sit in front of a pile of forms and documents and think, "What have I gotten myself into?" No one likes paperwork, so don't feel alone. The trick to tackling it is understanding where to start and having a mapped out battle plan.

So, you have to start by getting your team to view things through the eyes of an accountant (paperwork heaven...made you shudder huh?); or we can train your team to establish a consistent means of dealing with and processing paperwork (that does sound better).